Sumitomo Mitsui Financial Group (NYSE:SMFG) Coverage Initiated at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group assumed coverage on shares of Sumitomo Mitsui Financial Group (NYSE:SMFGGet Rating) in a research report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the bank’s stock.

SMFG has been the subject of a number of other research reports. StockNews.com started coverage on Sumitomo Mitsui Financial Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, April 14th. Finally, Bank of America cut Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a report on Monday, April 11th.

Shares of Sumitomo Mitsui Financial Group stock traded down $0.02 on Wednesday, reaching $5.95. The company had a trading volume of 259,382 shares, compared to its average volume of 2,768,505. The firm has a market cap of $40.89 billion, a price-to-earnings ratio of 6.40, a P/E/G ratio of 0.50 and a beta of 0.77. The firm’s 50-day moving average price is $6.64 and its two-hundred day moving average price is $6.85. Sumitomo Mitsui Financial Group has a 1 year low of $5.95 and a 1 year high of $7.74.

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Rating) last announced its earnings results on Wednesday, February 2nd. The bank reported $0.22 EPS for the quarter. The firm had revenue of $9.07 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 6.02% and a net margin of 17.50%. Equities analysts expect that Sumitomo Mitsui Financial Group will post 0.84 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 31.1% in the 3rd quarter. Guggenheim Capital LLC now owns 237,077 shares of the bank’s stock worth $1,662,000 after buying an additional 56,217 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 1,054.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 158,384 shares of the bank’s stock worth $116,000 after buying an additional 144,663 shares during the period. Creative Planning lifted its holdings in shares of Sumitomo Mitsui Financial Group by 82.6% in the 3rd quarter. Creative Planning now owns 46,834 shares of the bank’s stock worth $328,000 after buying an additional 21,187 shares during the period. Boston Partners lifted its holdings in shares of Sumitomo Mitsui Financial Group by 21.2% in the 4th quarter. Boston Partners now owns 12,225 shares of the bank’s stock worth $83,000 after buying an additional 2,138 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 29.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 7,853,118 shares of the bank’s stock worth $55,050,000 after buying an additional 1,765,786 shares during the period. Institutional investors own 2.98% of the company’s stock.

About Sumitomo Mitsui Financial Group (Get Rating)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.

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